(a) Every installment lender licensed under this chapter shall have and maintain a principal place of business in the State, regardless of whether the installment lender maintains its principal office outside of the State.

Terms Used In Hawaii Revised Statutes 480J-40

  • Branch office: means any location in the State that is identified by any means to the public or consumers as a location at which the licensee holds itself out as an installment lender. See Hawaii Revised Statutes 480J-1
  • Commissioner: means the commissioner of financial institutions. See Hawaii Revised Statutes 480J-1
  • lender: means any person who is in the business of offering or making a consumer loan, who arranges a consumer loan for a third party, or who acts as an agent for a third party, regardless of whether the third party is exempt from licensure under this chapter or whether approval, acceptance, or ratification by the third party is necessary to create a legal obligation for the third party, through any method including mail, telephone, the Internet, or any electronic means. See Hawaii Revised Statutes 480J-1
  • Licensee: means a person who is licensed or required to be licensed under this chapter. See Hawaii Revised Statutes 480J-1
  • NMLS: means the Nationwide Multistate Licensing System and Registry, which is a licensing system developed and maintained by the Conference of State Bank Supervisors for the state licensing and registration of state-licensed loan originators and other financial services providers, or any system provided by the Consumer Financial Protection Bureau. See Hawaii Revised Statutes 480J-1
  • Place of business: means a location where installment loans are offered or made and includes each website through which a consumer may apply for an installment loan from an installment lender. See Hawaii Revised Statutes 480J-1
(b) An installment lender shall not maintain any branch offices in the State in addition to its principal place of business without the prior written approval of the commissioner. No business shall be conducted at a branch office until the branch office has been licensed by the commissioner.
(c) An application to establish a branch office shall be submitted through NMLS with a nonrefundable application fee as required by section 480J-35.
(d) An installment lender shall not relocate any office in this State without the prior written approval of the commissioner. An application to relocate an office shall be submitted to the commissioner at least thirty days prior to relocation and shall set forth the reasons for the relocation, street address of the proposed relocated office, and any other information required by the commissioner. An application to relocate an office pursuant to this subsection shall be submitted with a nonrefundable fee as required by section 480J-35.
(e) An installment lender shall give the commissioner notice of its intent to close a branch office at least thirty days prior to the closing. The notice shall:

(1) State the intended date of closing; and
(2) Specify the reasons for the closing.
(f) The principal place of business and each branch office of the installment lender shall be identified in NMLS to consumers as a location at which the licensee holds itself out as an installment lender.
(g) A license issued under this chapter shall be prominently displayed in the principal place of business and each branch office.

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